In the context of economic growth models, the Solow model emphasises the role of: MCQ with Answer and Explanation

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In the context of economic growth models, the Solow model emphasises the role of:

A. Only capital accumulation without technology

B. Technological progress as the key driver of long-run growth

C. Only population growth

D. Only savings rate

Answer: Option B

Solution (By JKSSB Mock Tests)

The Solow-Swan neoclassical growth model shows that long-run growth in per capita income is driven primarily by exogenous technological progress.

This question belongs to: Economy GK Economy Set 1

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The 'Minimum Support Price' is based on which cost concept?

A. only paid-out costs

B. C2 cost

C. A2 + FL cost

D. C3 cost only

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Correct Answer: Option C

Explanation:
MSP is based on A2 plus family labour (FL) cost, though CACP recommends and government can consider C2.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'special economic zone' policy in India was first announced in which year?

A. 2000

B. 2010

C. 1995

D. 2005

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Correct Answer: Option A

Explanation:
SEZ policy was announced in April 2000.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Central Board of Direct Taxes' is a part of:

A. Ministry of Finance

B. RBI

C. SEBI

D. NITI Aayog

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Correct Answer: Option A

Explanation:
CBDT is part of the Ministry of Finance.

This question belongs to: Economy GK Economy Set 1

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